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Poland's PGE talks offshore wind with Ørsted

Source: Ørsted A/S

October 23 (Renewables Now) - Polish power group PGE Polska Grupa Energetyczna SA (WSE:PGE) will be discussing the joint development of 2.5 GW of offshore wind projects in the Baltic Sea with Ørsted A/S (CPH:ORSTED).

The Danish offshore wind major said it will negotiate the purchase from PGE of 50% stakes in each of two special purpose vehicles (SPVs) -- Elektrownia Wiatrowa Baltica-3 sp. z o.o. and Elektrownia Wiatrowa Baltica-2 sp z o.o. The former expects to develop 1 GW of offshore wind capacity by 2026, while the other SPV will be working on a 1.5-GW project by 2030.

PGE sent invitations for cooperation on the said projects to various parties in late 2018. In late January 2019, it said that 13 potential partners responded to those invitations, including “the largest players on the market.” At the time, PGE said that the two schemes represent the first stage of the group’s offshore programme, which, in turn, aligns with the country’s Energy Policy 2040.

Last month, PGE and compatriot PKN Orlen (WAR:PKN) signed a letter of intent (LoI) outlining details of a planned offshore wind cooperation in a drive to speed up the progress of the industry in Poland.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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